Free Trial

China's Xi Spoke w/ PM Johnson: State Media

POLITICAL RISK

Chinese state media confirms that President Xi Jinping held a call earlier with UK Prime Minister Boris Johnson.

  • China's CGTN tweets: "China's President Xi Jinping has held a telephone conversation with Boris Johnson after the UK prime minister attended an emergency G7 meeting in Brussels on the Ukraine conflict, according to CCTV."
  • The West continues to try to encourage China to disassociate itself from Russia and the actions of President Putin. Leaders in NATO, G7 and EU at summits yesterday and today have made comments saying that China should position itself 'on the right side of history'.
  • Given that the UK has proved one of the most hawkish major Western powers during the Ukraine crisis, and indeed recently towards China, there appears little that PM Johnson would be able to do to influence Xi's stance or actions towards Russia. There remains concern in the West that China will supply Russian military with, if not hardware, then at least provisions, non-lethal supplies etc.
  • For China's long-term geopolitical aims, turning away from Russia and towards the West is extremely unlikely. China continues to view the US as its greatest strategic competition, and therefore any action carried out to the conomic or military detriment of the US and the West (this time in the form of the Russian invasion of Ukraine) comes as an advantage to Beijing.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.